Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsOperating margin changed -2.7 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -2.7 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Shareholders' equity was non-positive
Debt/equity is shown as not meaningful rather than as a negative leverage ratio.
Why this surfaced
Same-period reported shareholders' equity was zero or negative; review the balance sheet and capital structure. Period end 2025-12-31.
- 5 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +19.0% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $112M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Product And Service$1.75Bshare n/a+19.2% yoy
- Natural Gas NG Ls And Condensate Sales$1.31Bshare n/a+23.0% yoy
- Product$1.31Bshare n/a+23.0% yoy
- Service$445Mshare n/a+9.2% yoy
- Gathering And Processing Services$445Mshare n/a+9.2% yoy
- Product And Service Other$11.7Mshare n/a-2.3% yoy
- Minimum Volume Commitments$2Mshare n/a+1900.0% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Product And Service$406Mshare n/a-7.8% yoy
- Natural Gas NG Ls And Condensate Sales$312Mshare n/a-0.1% yoy
- Product$312Mshare n/a-0.1% yoy
- Service$93.8Mshare n/a-26.7% yoy
- Gathering And Processing Services$93.8Mshare n/a-26.7% yoy
- Product And Service Other$3.97Mshare n/a+40.2% yoy
- +1 more member in the filing
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,007 US-listed filers · 114 in Utilities| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $1.8B | 64thof 3,301 middle third | 44thof 102 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 19.0% | 76thof 3,137 top third | 82ndof 97 top third |
Operating margin operating income ÷ revenue | 9.3% | 67thof 2,819 top third | 22ndof 97 bottom third |
Net margin net income ÷ revenue | 10.1% | 71stof 3,263 top third | 38thof 101 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 6.3% | 55thof 2,679 middle third | 72ndof 83 top third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | 0.7× | 45thof 819 middle third | 22ndof 39 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 3.5% | 41stof 2,895 middle third | 10thof 67 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 18 days | 84thof 2,398 top third | 91stof 84 top third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 6.0× | 21stof 1,546 bottom third | 45thof 81 middle third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 3.4× | 83rdof 1,737 top third | 87thof 81 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -6.1% | 62ndof 2,382 middle third | 77thof 84 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 3.3% | 56thof 2,004 middle third | 64thof 40 middle third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 50 changed periods, 28 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | $61.6M 10-K 2021-02-26 | -$1.02B 10-K 2023-03-07 | -1756.2% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | fiscal year 2021-12-31 | $16.2M 10-K 2022-02-22 | $244M 10-K 2024-03-05 | +1403.3% | first · latest · 3 filings carry it |
| Interest expense InterestExpenseDebt | fiscal year 2020-12-31 | $9.78M 10-K 2021-02-26 | $140M 10-K 2023-03-07 | +1329.5% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-06-30 | $4.01M 10-Q 2021-08-05 | $57.2M 10-Q 2022-08-09 | +1325.9% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | fiscal year 2020-12-31 | $15.9M 10-K 2021-02-26 | $224M 10-K 2023-03-07 | +1303.3% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-03-31 | $4M 10-Q 2021-05-10 | $56M 10-Q 2022-05-10 | +1299.3% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-09-30 | $4.08M 10-Q 2021-11-05 | $57.2M 10-Q 2022-11-09 | +1299.1% | first · latest |
| Interest expense InterestExpenseDebt | quarter 2021-06-30 | $2.32M 10-Q 2021-08-05 | $29M 10-Q 2022-08-09 | +1148.4% | first · latest |
| Interest expense InterestExpenseDebt | quarter 2021-09-30 | $2.38M 10-Q 2021-11-05 | $27M 10-Q 2022-11-09 | +1031.9% | first · latest |
| Interest expense InterestExpenseDebt | fiscal year 2021-12-31 | $9.43M 10-K 2022-02-22 | $105M 10-K 2024-03-05 | +1011.9% | first · latest · 3 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2021-03-31 | $2.31M 10-Q 2021-05-10 | $21.8M 10-Q 2022-05-10 | +845.1% | first · latest |
| Long-term debt LongTermDebt | balance at 2021-12-31 | $657M 10-K 2022-02-22 | $2.35B 10-K 2023-03-07 | +257.1% | first · latest · 4 filings carry it |
| Total liabilities Liabilities | balance at 2021-12-31 | $820M 10-K 2022-02-22 | $2.55B 10-K 2023-03-07 | +210.7% | first · latest · 5 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | $13M 10-Q 2021-05-10 | $31.6M 10-Q 2022-05-10 | +141.8% | first · latest |
| Total assets Assets | balance at 2021-12-31 | $1.72B 10-K 2022-02-22 | $3.55B 10-K 2023-03-07 | +106.0% | first · latest · 5 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2020-12-31 | 16,246,000 shares 10-K 2021-02-26 | 0 shares 10-K 2023-03-07 | -100.0% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2021-03-31 | 3,746,000 shares 10-Q 2021-05-10 | 0 shares 10-Q 2022-05-10 | -100.0% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2021-06-30 | 32,588,000 shares 10-Q 2021-08-05 | 0 shares 10-Q 2022-08-09 | -100.0% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2021-09-30 | 16,246,000 shares 10-Q 2021-11-05 | 0 shares 10-Q 2022-11-09 | -100.0% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2021-12-31 | 16,246,000 shares 10-K 2022-02-22 | 0 shares 10-K 2024-03-05 | -100.0% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2020-12-31 | 3,746,000 shares 10-K 2022-02-22 | 0 shares 10-K 2023-03-07 | -100.0% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2021-03-31 | 3,746,000 shares 10-Q 2021-05-10 | 0 shares 10-Q 2022-05-10 | -100.0% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2021-06-30 | 3,746,000 shares 10-Q 2021-08-05 | 0 shares 10-Q 2022-08-09 | -100.0% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2021-09-30 | 3,746,000 shares 10-Q 2021-11-05 | 0 shares 10-Q 2022-11-09 | -100.0% | first · latest |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2021-12-31 | 3,746,000 shares 10-K 2022-02-22 | 0 shares 10-K 2024-03-05 | -100.0% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2020-12-31 | -$246M 10-K 2021-02-26 | $10K 10-K 2024-03-05 | +100.0% | first · latest · 10 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-03-31 | -$331M 10-Q 2021-05-10 | $10K 10-Q 2022-08-09 | +100.0% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-06-30 | -$506M 10-Q 2021-08-05 | $10K 10-Q 2022-11-09 | +100.0% | first · latest · 4 filings carry it |
2 share-count periods re-presented for a stock split (2-for-1) are listed apart from restatements and not counted above.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for KNTK yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.